Energy Storage Sizing Optimization and Sensitivity Analysis Based on Wind Power Forecast Error Compensation

Xiaodong Yu, Xia Dong, Shaopeng Pang, Luanai Zhou and Hongzhi Zang
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Xiaodong Yu: Key Laboratory of Power System Intelligent Dispatch and Control of the Ministry of Education, Shandong University, Jinan 250061, China
Xia Dong: School of Electrical Engineering and Automation, Qilu University of Technology (Shandong Academy of Sciences), Jinan 250353, China
Shaopeng Pang: School of Electrical Engineering and Automation, Qilu University of Technology (Shandong Academy of Sciences), Jinan 250353, China
Luanai Zhou: Qingdao Harbor Vocational and Technical College, Qingdao 266400, China
Hongzhi Zang: Economic & Technology Research Institute, State Grid Shandong Electric Power Company, Jinan 250001, China

Energies, 2019, vol. 12, issue 24, 1-21

Abstract: To better track the planned output (forecast output), energy storage systems (ESS) are used by wind farms to compensate the forecast error of wind power and reduce the uncertainty of wind power output. When the error compensation degree is the same, the compensation interval is not unique, different compensation intervals need different ESS sizing. This paper focused on finding the optimal compensation interval not only satisfied the error compensation degree but also obtained the max profit of the wind farm. First, a mathematical model was proposed as well as a corresponding optimization method aiming at maximizing the profit of the wind farm. Second, the effect of the influencing factors (compensation degree, electricity price, ESS cost, and wind penalty cost) on the optimal result was fully analyzed and deeply discussed. Through the analysis, the complex relationship between the factors and the optimal results was found. Finally, the comparison between the proposed and traditional method was given, and the simulation results showed that the proposed method can provide a powerful decision-making basis for ESS planning in current and future market.

Keywords: wind power; error compensation; energy storage system (ESS); optimization; sensitivity analysis (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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